Question

What is the simple interest on rs.1200 at a rate of 8%per annum for three years?

Answer 1

1200×8×3÷100=288 will be the simple interest

Answer 2

The simple interest on Rs.1200 at a rate of 8% per annum for three years is Rs. 288.

Step-by-step explanation:

We know that when p is the principal amount of money borrowed, r% is the rate of interest and t is the time period of the interest, the simple interest on the given sum of money that is p becomes,

Simple Interest or SI = $\frac{p*r*t}{100}$.

Now, according to the given information, it is given that, we need to find the value of the simple interest on Rs.1200 at a rate of 8% per annum for three years.

Now, this means that principal amount that is p is equal to Rs. 1200 here. Also, this means that the rate of interest that is r is 8% per annum here and this means that the time period that is t is 3 here.

Now, putting these values in the formula for simple interest, we get,

SI =

$\frac{1200 * 8*3}{100} \\=12*8*3\\=288$

Thus, the simple interest on Rs.1200 at a rate of 8% per annum for three years is Rs. 288.

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